The 10 Most Shorted ASX Stocks · Week 16, 2024
15 Apr 2024 — 19 Apr 2024
Westgold (WGX) was the week’s loudest print: shorts surged from 4.05% to 6.68% (+2.63%), while Red 5 (RED) shorts fell from 1.95% to 1.20% (-0.76%). Lithium stayed the market’s favourite punching bag — Pilbara (PLS) lifted to 21.97% (+0.59%), Liontown (LTR) to 10.61% (+0.49%) and Sayona (SYA) to 8.35% (+1.16%). Across the market, 678 stocks were shorted with an average short position of 1.15% and a period average change of +0.12%.
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
WGX up +2.63%. RED down -0.76%. That pairing is the week’s cleanest signal — traders are setting up around a corporate action, shorting the acquirer and taking pressure off the target. It’s plumbing, not panic.
CapstoneCorp CDI (CSC) sits at 66.49% short, unchanged. It’s the table-topper, but it’s not where the weekly information is — when a name is that heavily shorted and flat week-on-week, the market is dug in and waiting for a catalyst. The real heat is still in lithium. Pilbara Minerals (PLS) is now 21.97% short (+0.59%). That’s a big number for a large cap and it tells you the trade is crowded for a reason: shorts are still leaning into weak lithium pricing and the knock-on risk of margin resets and guidance pain. Liontown (LTR) climbed to 10.61% (+0.49%), Sayona (SYA) jumped to 8.35% (+1.16%) and Core Lithium (CXO) edged up to 8.34% (+0.08%). Different stories at the company level, same sector bet. IDP Education (IEL) is the other standout in the top 10: 15.65% short (+0.83%). This is the market pressing on policy risk around international students and the earnings sensitivity that comes with it. Travel shorts also kept creeping higher. Flight Centre (FLT) rose to 11.47% (+0.40%), and that’s the sort of positioning you see when the market wants exposure to discretionary downside without touching the index.
Key financial metrics from recent company reports for the most shorted stocks.
Stocks with the largest increase in short interest this week.
Stocks with the largest decrease in short interest this week.
Westgold (WGX) led the risers: 4.05% → 6.68% (+2.63%). Moves like that in a week are rare. Paired with the cover in Red 5 (RED) — 1.95% → 1.20% (-0.76%) — it reads as deal mechanics: short the paper being issued, buy (or at least stop shorting) the paper being taken out. The other big statement was The Star (SGR): 2.86% → 4.91% (+2.05%). Casinos attract shorts when regulators are in the frame and balance sheets matter. A two-point jump says the market wants protection against a nasty headline. Nanosonics (NAN) also saw shorts pile in: 4.34% → 5.57% (+1.23%). This is what a valuation check looks like — a quality healthcare name where the market is demanding clean execution. (Company reports: http://www.nanosonics.com/media/qsddlk5a/nanosonics_annual-report-2025_fa_web.pdf) Corporate Travel (CTD) moved up as well: 2.96% → 3.90% (+0.94%). When shorts add here, they’re leaning into the idea that corporate budgets tighten faster than investors expect. (FY24 annual report: https://investor.travelctm.com.au/wp-content/uploads/2024/08/2024-Annual-Report-web.pdf) On the cover side, Block CDI (SQ2) dropped from 2.71% to 1.72% (-0.99%) and EML Payments (EML) fell from 2.84% to 2.00% (-0.84%). That looks like risk being taken off in parts of fintech/payments — less conviction in the downside, or profits being banked.
This week’s map is simple: lithium and consumer cyclicals. Lithium remains the dominant short expression on the ASX. Four lithium-linked names sit in the top 10 (PLS, LTR, SYA, CXO) and three of them added hard this week (PLS +0.59%, LTR +0.49%, SYA +1.16%). Shorts aren’t positioned for a quick V-shaped recovery — they’re positioned for a grind. Travel is the second cluster. FLT (11.47%, +0.40%) and CTD (3.90%, +0.94%) suggest the market is leaning into a cost-of-living and higher-for-longer rates hangover: leisure demand can wobble, corporate travel can get trimmed, and both can hit margins. Zoom out and the stats keep you honest: the average short across 678 stocks is only 1.15%, and the period average change is +0.12%. So when you see +2.63% (WGX) or +2.05% (SGR), that’s where the fresh information is.
Watch WGX and RED together next week. If WGX short interest keeps rising while RED keeps getting covered, the arb is still widening — and the spread is the trade.
Because WGX was the week’s biggest short-interest riser (+2.63%), and the simultaneous cover in Red 5 (RED) from 1.95% to 1.20% (-0.76%) points to corporate-action positioning: traders often short the acquirer and buy (or stop shorting) the target to capture the spread.
The top 10 are: CSC 66.49%, PLS 21.97%, IEL 15.65%, SYR 13.42%, FLT 11.47%, LTR 10.61%, SYA 8.35%, CXO 8.34%, BOQ 7.71%, WBT 7.51%.
Yes. PLS is 21.97% short (+0.59%), LTR is 10.61% (+0.49%), SYA is 8.35% (+1.16%) and CXO is 8.34% (+0.08%), with multiple lithium names adding short interest this week.
WGX (+2.63% to 6.68%), SGR (+2.05% to 4.91%), NAN (+1.23% to 5.57%), SYA (+1.16% to 8.35%), and CTD (+0.94% to 3.90%).
SQ2 (-0.99% to 1.72%), EML (-0.84% to 2.00%), BWX (-0.83% to 1.45%), RED (-0.76% to 1.20%), and AGY (-0.64% to 2.37%).
Track the live rankings on the most shorted ASX stocks page, watch short squeeze candidates, or see market-wide totals in the ASX short selling statistics.
Data sourced from ASIC short position reports (T+4 delayed). This report is for informational purposes only and does not constitute financial advice. Short selling data may not reflect real-time market conditions.
